Obligations binding

Representations and Warranties Anatomy™ →Go uptown {{{2}}} A “typical” Obligations binding clause: Obligations binding. Its obligations under this Agreement are its legal, valid and binding obligations, enforceable according to their terms (subject to general laws affecting creditors’ rights and equitable principles). view template Representations and warranties generally | Representations | Warranties | Covenants | Acknowledgements | Representations in the ISDA | Warranties in the GMSLA | Representations in the GMRA | Waiver by estoppel | AcknowledgementCommon representations: Status | Capacity | Authority | No violation | Consents | Obligations binding | Principal | Understanding | Non-reliance | No representation | Unencumbered owner | No default or potential event of default | No litigation | No fiduciary obligation | Representations and warranties Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

A representation that transgresses the very first rule of representations and warranties, which is that they are meant to be about matters of private fact, known to the representor but not the representee, but which the representee cares a lot about, but about which the unqualified, unwashed representor can safely make an assertion.

Matters of law — which these unquestionably are — are neither matters of private fact — a contract is either valid and binding on one party or it isn’t; it isn’t the sort of thing that party can conceal from the other one — nor matters of fact at all, but matters of law.

The person who can attest to these is a special fellow. A boy wizard. A legal eagle. If you want to know whether your agreement is binding, don’t ask the counterparty; ask your lawyer.

See also

• Obligations binding under the ISDA Master Agreement